This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

BGC Partners Seeks To Expand Its Latin American Presence With Agreement To Acquire Premier Mexican Inter-Dealer Broker Remate Lince, S.A.P.I. De C.V.

Stocks in this article: BGCP

NEW YORK, May 1, 2014 /PRNewswire/ -- BGC Partners, Inc. (NASDAQ: BGCP) ("the Company" or "BGC"), a leading global brokerage company servicing the wholesale financial and real estate markets, today announced that it intends to expand its Latin American presence with an agreement to acquire Remate Lince, S.A.P.I. de C.V. ("Remate"), one of Mexico's leading inter-dealer brokers, known for its strong interest rate derivatives and bond brokerage businesses. This marks BGC's first acquisition agreement in Latin America since the acquisition of Brazil's Liquidez DTVM Ltda. in 2009 and highlights the company's ambitions to expand its position in this important strategic region, drive liquidity and market connectivity to its customer base in Latin America, and export peso-denominated products to our global platform. Financial details of the intended transaction which has not yet closed were not disclosed.

BGC Partners, Inc. logo

"BGC is one of the fastest growing inter-dealer brokers in the industry. We continue to expand our international footprint and suite of products, delivering exceptional value to our clients. Remate has earned a premier reputation in the Latin American marketplace and we are excited to sign an agreement with them and welcome them to the BGC family shortly," said Shaun D. Lynn, President of BGC.

Mr. Lynn continued: " Latin America has terrific growth potential, as we have seen with Liquidez in Brazil and our Euro Brokers business in Mexico. We look forward to leveraging BGC's existing presence and expertise to unlock even greater value and to offer our global customers new products in the Mexican market and offer Mexican customers new access to global distribution opportunities, greater liquidity, and all the benefits of our technology platform."

Commenting, Jacques Levy, Chairman of Remate, said: "As a co-founder of this business I am proud of everything Remate has achieved in the past eighteen years. This marks an exciting new chapter for our business and our employees. It is a great honor to announce this agreement with BGC, a strong global brand with a magnificent industry reputation and proven history of acquiring businesses and promoting synergies and opportunities for growth. We look forward to working with BGC and building a formidable presence in Latin America."

About Remate Lince, S.A.P.I. de C.V. Established in 1997, Remate is one of Mexico's top inter-dealer brokers. Located in Mexico City and New York, Remate has a strong focus on financial instruments available in, or linked to, Mexican Pesos. Its Pesos bonds division brokers Government, Agencies and Corporate fixed, floating and inflation-related bonds, including Repos. Its Derivatives division brokers Interest Rate Swaps, Forward Foreign Exchange and other Peso-related derivatives. In addition, Remate offers customers a Spot Foreign Exchange voice brokerage service.

About BGC Partners, Inc.BGC Partners is a leading global brokerage company servicing the financial and real estate markets.  Products include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products. BGC also provides a wide range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a broad range of financial and non-financial institutions.  Through its BGC Trader and BGC Market Data brands, BGC offers financial technology solutions, market data, and analytics related to select financial instruments and markets.  Through the NGKF brand, the Company offers a wide range of commercial real estate services including leasing and corporate advisory, investment sales and financial services, consulting, project and development management, and property and facilities management. BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, real estate developers, and investment firms. For more information, please visit www.bgcpartners.com.

BGC, BGC Trader, Grubb & Ellis, Grubb and Newmark are trademarks and service marks of BGC Partners, Inc. and its affiliates.  Knight Frank is a service mark of Knight Frank Limited Corp., used with permission.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs